SPAC Alyst Acquisition Corp Agrees to Acquire China Networks Media Ltd.

Alyst Acquisition Corp. (Amex: AYA), a special purpose acquisition company ("Alyst"), today announced that it has signed an agreement and plan of merger to acquire all of the issued and outstanding shares of China Networks Media Ltd., a British Virgin Islands company ("China Networks"), which owns and is in the process of acquiring television station operating assets in the People's Republic of China (PRC) for $38.7 million

As part of the transaction, Alyst will redomesticate to the British Virgin Islands by means of merging with its wholly-owned subsidiary China Networks Holdings immediately prior to consummating its transaction with China Networks. Chardan Capital Markets, LLC ("Chardan") is acting as exclusive advisor to the transaction.

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SPAC Enterprise Acquisition Corp. Announces $742 million Acquisition of Workflow Management Inc

According to an article in TheDeal: "Enterprise Acquisition Corp., a special purchase acquisition company, announced Monday, Aug. 25, that it had agreed to acquire a majority stake in Perseus LLC portfolio company Workflow Management Inc. for $742 million, including debt."

Workflow Management is a provider of end-to-end business management outsourcing solutions to commercial customers throughout North America, enables clients to manage printing and promotional product procurement and logistics functions through its network of sales offices, print-on-demand facilities, and distribution centers.

Workflow also has entered into a letter of intent and a purchase agreement to acquire two additional businesses in the marketing services and promotional production solutions industry, which may be completed prior to the closing of the merger with Enterprise. Workflow generated approximately $1.2 billion in revenue in 2007, on a pro forma basis to reflect the two pending acquisitions.

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Toronto Stock Exchange Proposes Listing of SPACs

According to an article by Leslie McCallum, the Toronto Stock Exchange (TSX) is proposing to permit the listing of special purpose acquisition corporations.

Overview of SPACs Under Proposed TSX Rules:

• A SPAC must raise IPO proceeds of at least $30 million, with a minimum price per security of $5
• Within three years of the IPO, the SPAC must acquire one or more operating businesses with a combined minimum value of approximately 80% of the IPO proceeds, with the resulting issuer meeting TSX's original listing criteria
• Founding securityholders' equity interest in the SPAC must be at least 10%
• The acquisition must be approved by securityholders, excluding founders
• Securities issued in the IPO must have a conversion right and liquidation distribution feature

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